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Galilee Basin drilling update – Albany 1 well spud approaching 

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Oilfield Technology,

  • Easternwell Rig 101 arrival on to Comet Ridge Albany 1 site expected within the week.
  • Conductor and Cellar installed and all service contracts for drilling in place.
  • High impact Albany 1 well expected to spud next week.

Comet Ridge Limited has advised that Easternwell’s Rig 101 is expected to be released from its present operations over the next several days, and begin its move to the Albany 1 location in the north-eastern Galilee Basin. 

This high impact deep sandstone appraisal well is subsequently expected to spud next week. 

Comet Ridge Managing Director Tor McCaul said the Albany-1 appraisal well was an exciting prospect for the company as it looks to build upon its existing Eastern Australian reserve and resource base.

“Drilling of the Albany-1 well represents the culmination of considerable technical work. The well will be an appraisal of an existing gas discovery utilising modern air drilling techniques.” 

“Should this appraisal well prove successful, Comet Ridge along with its joint venture partner Vintage Energy have identified approximately two dozen follow up leads and prospects to further explore and appraise in this large petroleum basin.”

Albany 1 key summary information: 

  • Albany 1 will be the second well drilled within closure on this very large sandstone structure, evaluated initially by the Carmichael 1 well in 1995. 
  • Seismic interpretation shows the structure to be approximately 15 km along the main axis and up to 8 km across at its widest point.
  • When drilled, the original Carmichael 1 well flowed gas at low rates, from three intervals in the thick Galilee Sandstone sequence; 
  • The reservoir section contains approximately 140m of gross sandstone with approximately 40 m of interpreted net pay;  At the time Carmichael 1 was drilled gas flowed to surface despite very significant mud overbalance in the well. The Albany 1 well will be drilled with nitrogen rather than drilling mud, through the sandstone reservoir section; 
  • An independent resource certification has indicated 417PJ+ of recoverable gas at the 3C contingent resource level, 153 PJ+ at the 2C level and 56 PJ+ at the 1C level. 

The drilling of Albany-1 will be the first Phase in a farm-out work programme. 

Under this programme, Vintage Energy Ltd (Vintage) is farming into the sandstone section of the block (the Deeps) by funding the first US$3.35 million of the cost of drilling the first well to earn a 15% interest in the Deeps.

Vintage can also fund half of the second phase programme.

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